Will bitcoin ever reach $1000 dollars again?

[boumalo]

i think this end this year

It is possible this year but more likely in 2015, what we know for sure is that it will happen!

Prefer to happen in 2015 to get my hands on BTC at a cheap price

[AdamSmith]

Expecting it to happen this year or next.

Bitcoin market is still very small in the grand scheme of things.

[Buziss]

Guys bitcoin will only fall for now and will rise once a Quantum Computer is created. Half of quantum computer problems have been solved so now its few years from now. The day this Computer comes in market the difficulty will rise like rocket and price will goto 100K$

I have no idea how quantum computing will change bitcoin mining, but I don't think there is a close relation between difficulty and price.
For example, the difficulty is now 15x higher than last Dec, but the current bitcoin price is just half of the price back then.

Actually, I do see one small data point where the difficulty and the price of bitcoin is related...
Maybe there's an answer, but I haven't found anything that sounds correct.

As we know the difficulty is always rising, and at a good clip.
Well, we've gone from the point where you could (reasonably) mine with your computer, to mining with graphics cards, to dedicated add-in boards, to full-blown stand-alone ASIC miners. And the technology has moved surprisingly quickly from the old 130 nm process to what is essentially the state-of-the-art 28 nm process, so from that standpoint, we're close to tapped out.

Well, after everybody is on only the latest and greatest hardware and the difficulty jumps once more to the point where the hobbyist can't afford to hang w/ the huge data-center-based farms. And then, soon after, it starts drying up for them (after some consolidation, I imagine), who is going to be willing to spend tens of thousands of dollars a month on mining operations when it's simply not profitable to do so?

And if no one is mining, (because it's insanely expensive), how does bitcoin continue to function?
Any ideas?

Anyway, I don't want to hijack this guy's thread... but I want to add that I think it will head there again, in the fairly near future.

Even in the scenario you described, I don't think it is the end of the bitcoin world.
People in different location pay different electricity cost. If you are in a high electricity cost location, you will stop mining sooner, which will make the difficulty go down and make the mining profit higher for the other miners.
So, those with the newest miners and lowest electricity cost will have no problem mining.

[Bizmark13]

I think Bitcoin will reach (and surpass) $1,000 either later this year (hopefully) or perhaps sometime next year. I will be VERY disappointed if it isn't over the $1,000 mark by 2016.

Guys bitcoin will only fall for now and will rise once a Quantum Computer is created. Half of quantum computer problems have been solved so now its few years from now. The day this Computer comes in market the difficulty will rise like rocket and price will goto 100K$

I have no idea how quantum computing will change bitcoin mining, but I don't think there is a close relation between difficulty and price.
For example, the difficulty is now 15x higher than last Dec, but the current bitcoin price is just half of the price back then.

I think difficulty depends on the hash power of miners as well as the number of miners. So the introduction of ASICs in 2013 greatly increased difficulty, for example. So did the transition from CPU to GPU mining and the flood of new users in mid-2011 when Bitcoin first became mainstream. I'm not sure why the difficulty is so much higher today compared with December 2013 though. Everyone mined with ASICs back then and it's still the same situation today. Perhaps it's because there are more people mining nowadays (I think a lot of people became interested in Bitcoin during and immediately after the November spike - myself included) or maybe it's because the power and efficiency of mining equipment has improved since then.

[oceans]

Yes I believe it will reach $1000 maybe even over within time but being able to predict exactly when is impossible this early on. I would like to see if happen in 2015 but again predicting this early on is something we are unable to do, it could go either way.

[Dillar]

December, it will happen this December. I feel it in my bones.

[C.Steven]

I am pretty confident that bitcoin price will touch $1000 again this year (we have 5 more months), but that $1000 mark will be a big resistance and the price will likely be under big pressure after touching it.

[Puberty]

I am pretty confident that bitcoin price will touch $1000 again this year (we have 5 more months), but that $1000 mark will be a big resistance and the price will likely be under big pressure after touching it.

Yes, there is the psychology behind it. Many of those who bought in late 2013 and early 2014 at $1,000-$1,200 will see that the price has risen back to four digits, feel relieved, and sell.

[lynn_402]

I am pretty confident that bitcoin price will touch $1000 again this year (we have 5 more months), but that $1000 mark will be a big resistance and the price will likely be under big pressure after touching it.

Yes, there is the psychology behind it. Many of those who bought in late 2013 and early 2014 at $1,000-$1,200 will see that the price has risen back to four digits, feel relieved, and sell.

I believe that these kinds of people who are prone to panic-buying might actually buy more at that price, since they might think that their coins are finally in a rocket to be worth 10000$. Or they have panic-sold already.

[Bogleg]

No doubt in everyone mind it will bit 1000 again.

The question remain unclear is how high will bitcoin go.

[giveBTCpls]

I am pretty confident that bitcoin price will touch $1000 again this year (we have 5 more months), but that $1000 mark will be a big resistance and the price will likely be under big pressure after touching it.

Yes, there is the psychology behind it. Many of those who bought in late 2013 and early 2014 at $1,000-$1,200 will see that the price has risen back to four digits, feel relieved, and sell.

I believe that these kinds of people who are prone to panic-buying might actually buy more at that price, since they might think that their coins are finally in a rocket to be worth 10000$. Or they have panic-sold already.

There is a big ass invisible buy wall by everyone that missed the boat. Big FIAT holders are wanting to get on the BTC game and get a juicy position before we reach mainstream adoption. Im almost 100% sure a lot of people is keeping it as silent as possible for they to have a good place to enter cheap before things kick off.

[polynesia]

No doubt in everyone mind it will bit 1000 again.

The question remain unclear is how high will bitcoin go.

The question is when...
If it reaches $1000 in 2140, it wouldn't benefit anybody, 

[BunsenBurner]

I am pretty confident that bitcoin price will touch $1000 again this year (we have 5 more months), but that $1000 mark will be a big resistance and the price will likely be under big pressure after touching it.

Yes, there is the psychology behind it. Many of those who bought in late 2013 and early 2014 at $1,000-$1,200 will see that the price has risen back to four digits, feel relieved, and sell.

I believe that these kinds of people who are prone to panic-buying might actually buy more at that price, since they might think that their coins are finally in a rocket to be worth 10000$. Or they have panic-sold already.

There is a big ass invisible buy wall by everyone that missed the boat. Big FIAT holders are wanting to get on the BTC game and get a juicy position before we reach mainstream adoption. Im almost 100% sure a lot of people is keeping it as silent as possible for they to have a good place to enter cheap before things kick off.

You mean those wall street traders and investment funds?

[boumalo]

I am pretty confident that bitcoin price will touch $1000 again this year (we have 5 more months), but that $1000 mark will be a big resistance and the price will likely be under big pressure after touching it.

Yes, there is the psychology behind it. Many of those who bought in late 2013 and early 2014 at $1,000-$1,200 will see that the price has risen back to four digits, feel relieved, and sell.

I believe that these kinds of people who are prone to panic-buying might actually buy more at that price, since they might think that their coins are finally in a rocket to be worth 10000$. Or they have panic-sold already.

When the price will hit 1000$ again it will probably not be a good time to sell because we are likely to go way higher

[binaryclockthree]

I think it'll go over $1000 again.  But something will probably replace it because bitcoin is too slow for actual real world transfers.

[griffga]

I think it'll go over $1000 again.  But something will probably replace it because bitcoin is too slow for actual real world transfers.

This is an interesting debate. I have wondered if there is another coin right now which could replace Bitcoin due to slow confirmations. Honestly though, Bitcoin is the only coin that I see getting real support and traction in the industry in terms of atms, and actual large companies accepting it like Expedia for travel, etc. Are there other coins that people see getting powerful industry support?

[kingaltcoins]

I believe and hope for december 2014

[gelross2014]

lets just hope for the best. it will reach 1000$ believe in it

[Muhammed Zakir]

I think it'll go over $1000 again.  But something will probably replace it because bitcoin is too slow for actual real world transfers.

This is an interesting debate. I have wondered if there is another coin right now which could replace Bitcoin due to slow confirmations. Honestly though, Bitcoin is the only coin that I see getting real support and traction in the industry in terms of atms, and actual large companies accepting it like Expedia for travel, etc. Are there other coins that people see getting powerful industry support?

Bitcoin is the topmost coin, in considering everything except transaction time but I think its natural. Litecoin is coming somewhat near. It isn't accepted in large companies but is accepting by medium companies which may change in future. I still don't think it can replace BTC but can be nearer or equal to BTC.

Kindly,
      MZ

[realdope]

Yes i hope before next year